Darwin battles to secure Fenn Wright Manson survival
Fenn Wright Manson, the premium women's fashion chain, is battling to safeguard its future just 17 months after it was acquired by a private equity firm.
The retailer, which has 17 shops and scores of concessions in department stores, is working with a team at the restructuring specialist Zolfo Cooper to explore a number of options.
Four of Fenn Wright Manson's directors, Anju Mahbubani, Patrick Hollwey, Sharon Jones and Claire Lawrence, left the business recently.
Darwin Private Equity acquired Fenn Wright Manson, which has 400 staff, on 1 October 2010. The deal saw the only remaining founder, Colin Fenn, leave. The fashion group's performance has recently deteriorated.
It is thought the idea of putting Fenn Wright Manson into administration has been floated, if it cannot deliver a rescue plan such as fresh funding.
The retailer, Zolfo Cooper and Darwin declined to comment last night.
Fenn Wright Manson's pre-tax profits fell by 58 per cent to just £864,213 for the year to 31 January 2011. The retailer, which has concessions in John Lewis and House of Fraser, grew turnover by 15 per cent to £26.35m.
- 1 David Sedaris: What I learnt from Fitbit about the world around me
- 2 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Cee Lo Green: It is only rape if the victim is conscious
- 5 Katie Hopkins breaks down in tears over weight gain challenge: ‘I hate fat people for making me do this’
Emma Watson on Jennifer Lawrence naked photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
Jessica Brown Findlay: Downton Abbey actress is linked to list of celebrities targeted by hackers
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Ariana Grande nude photos leak: Pictures are completely fake, say representatives
Steven Sotloff 'beheading': British captive shown in Isis video claiming to show death of second US journalist
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£30000 - £45000 per annum + benefits+bonus+package: Harrington Starr: Front-Of...
£700 per day: Harrington Starr: Quantitative Developer C++, Python, STL, R, PD...
£700 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, J2EE, J...
£500 per day: Harrington Starr: SQL Developer SQL, C#, Stored Procedures, MDX...